Why Are Cruise Prices Going Up?

Cruise lines are experiencing higher fares for the first time since the COVID-19 pandemic hit, as bookings soar to their highest levels since 2019. This increase in demand allows cruise lines to charge higher prices, with operators like Carnival and Royal Caribbean considering raising prices even more to close the gap between the price of cruises. Cruise vacations have emerged as a popular option among consumers in search of cheaper ways to travel, but U.S. cruises are now more expensive due to factors such as the demand for cheaper deals, fuel, and last-minute bookings.

Fares in 2023 were up 18% from what they were in 2019, driven by the dynamic nature of demand and the increased cost of goods and labor. The cruise industry is booming, and if cabins are selling quickly, prices will go up. Fully selling out a cruise ship generally takes 12 months, so when a cruise is sold out, prices will only increase more as the vacation date approaches.

Cruise prices are very high right now because the industry is booming. The law of supply and demand states that as long as cruise ships are sailing full, fares will not go down. To get the best price, it is essential to book your cruise as soon as you know you want to go on the sailing and lock in the cabin you prefer.